NCUA determines interim guidance on serving hemp businesses

Late yesterday, the NCUA released interim guidance on an agricultural matter unrelated to the controversial cannibis banking issue. NCUA Chairman Rodney E. Hood announced federally insured credit unions may provide certain financial services to legally operating hemp businesses under the new guidelines. The guidance will be revised and updated once the United States Department of […]

Washington Wire – Aug. 20, 2019

The FASB Board issued an exposure draft for public comment regarding the effective dates of several different standards as they apply to each type of reporting entity. Under the proposal, as it applies to credit unions, the plan would: Delay CECL until 1/2023 Delay leasing until 1/2021 Delay hedging until 1/2021 In addition, the proposal […]

League InfoSight and AffirmXCU invest in state association-driven regulatory compliance solutions

League InfoSight, a consortium of state credit union associations, has agreed to sell its compliance management system, ComplySight, to AffirmXCU, LLC. The sale includes a combination of cash and stock, and a seat on AffirmCU’s board for League InfoSight. Together the two compliance management systems serve more than 370 credit unions spanning nearly every state. […]

Few Americans have savings to retire comfortably

The golden years for many are looking tarnished with debt and inadequate preparation these days. A recent article in NASDAQ offers tips to help save for retirement during a time when statistics are showing few have enough saved to take care of their needs. The earliest individuals are eligible for Medicare is 65, and the […]